said the central bank could scale back the pace of its interest rate hikes "as soon as December," but cautioned the fight against inflation was far from over.
European markets are set to continue the risk-on mood, with the pan-region Eurostoxx 50 futures up 1.29%, German DAX futures 1.31% higher and FTSE futures 0.36% advanced. E-mini futures for the S&P 500 rose 0.26%. "It looks as if Fed Chair Powell didn't get the memo to push back against pivot hopes and keep financial conditions tight before he went to give his speech," he said.Markets are currently pricing in a 91% probability that the Fed will increase rates by 50 basis points on Dec. 14, and see a 9% chance of another 75 basis point hike.
The dollar index - which measures the currency against six major peers including the yen and euro - extended Wednesday's more than 1% drop into Thursday, dipping a further 0.28% to 105.48.
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